Bitcoin (BTC) may have printed a classic “head and shoulders” pattern but bulls could still win, says veteran trader Peter Brandt.
In a tweet on Oct. 27, Brandt, famous for his accuracy when it comes to BTC price predictions, refused to flip bearish on Bitcoin.
Brandt: Bitcoin may face “larger congestion”
Despite nearing $58,000 in a fresh wipeout of leveraged traders on Oct. 27, analysts remain broadly calm, even calling for highs to return in a show of strength that should catch many by surprise.
For Brandt, there is also little reason to dismiss Bitcoin on the back of current price action.